Invoice extraction is the first step towards fully automated invoice processing. It is well known that manuel data entry is very time consuming and also prone to error. Many companies try to overcome this problem by using OCR technology, yet OCR doesn’t suffice to extract non-uniform data types.

We offer you a powerful cognitive data capture tool, which is capable of understanding all invoice variations, including every line item. Cognitive data capture performs two main functions: Data extraction and data validation. Automation of these two steps are vital for invoice processing, because there are various invoice formats with respect to metadata and you often encounter with several unstructured and non-uniformed data in line items.

As the first step, onVision Invoice Extraction product uses a mixation of OCR and ICR to recognize contents of invoice and extract data with a high level of accuracy. Following this step, machine learning procedure begin to show off its abilities. Each line item of the invoice is analyzed and interpreted by AI. Based on confidince score rating and spatial referencing method, data validation/correction is finalized.

Based on Artificial Intelligence, onVision Invoice Extraction tool is built for automated invoice processing. Besides, custom or pre-built integration with ERP such as SAP or MS Dynamics is ready for your use.